The City of New Salem is very excited to announce the approval of it's Renaissance Zone!! This offers many opportunity's to New Salem residents that reside or own/operate a business in the designated blocks.

The Renaissance Zone Program is a tool for community redevelopment and economics investment that incorporates tax incentives to business and residential properties. The Renaissance Act, created by the 56the Legislative Assembly, made possible for North Dakota cities to create Renaissance Zones within their jurisdiction.

Types of Renaissance Zone projects

Renovations

Rehabilitation

Lease hold improvements

Purchase that includes new construction

Tax Incentives

Up to 100 percent exemption on business taxes

Up to five years on property taxes on both commercial and residential properties

Up to $10,000 tax credit per year for five years on qualified single family homes (max $50,000)

The Renaissance zone committee meets on the first Monday of each month to review any applications and to review the progress of current projects. Please call 843-7828 with any questions on the Renaissance Zone or to submit an application.